Chap 10

Sales promotion

A form of communication that encourages the customer to act immediately, such as coupons, sales, or contests.

Diversification

A strategy whose goal is growth, based on adding new products or services to the firm's existing collection of offerings.

Product expansion

A strategy whose goal is growth, based on selling existing customers a product or service they have never bought before.

Public importance

(1) things that are considered important to large numbers of otherwise unrelated people, (2) things that are of civic importance, as opposed to private or corporate entities.

Public interest

(1) things that are generally considered to be beneficial to large numbers of people, (2) civic causes and benefits, as opposed to private and corporate benefits.

Power

A concept in public importance which alludes to potential shifts in control or influence.

Advertising

Is often used to support the corporate identity and value propositions that are established through public relations efforts. Part of conveying your message to your customers, advertising outlets include newspapers, magazines, billboards, television, and internet banner ads, to name a few.

Donations

Monetary or other gifts to organizations or people who are in need.

Sponsorship

Paying for a local organization's needs in exchange for recognization.

Value proposition

Small business owners' unique selling points that will be used to differentiate their products and/or services from those of the competition.

Keyword and description tags

Terms included in the hidden portion of a web page (called the document head) which are used by search engines such as Yahoo! and Google to describe your web site and evaluate its focus and category placement.

Personal selling

The process of selling your products and service; includes prospect and evaluate, prepare, present, close, and follow-up.

Customer relationship management (CRM)

The process of tracking the customer's different contacts with the firm, and using this data to help improve sales as well as the customer's experience.

Succinct message

Your key point in as few and as memorable words as possible.

Currency

A concept in public importance which alludes to the degree to which the issue is immediate in its impact.

Human interest

A concept in public interest which alludes to a character to whom the public can relate.

good story

A concept in public interest which alludes to an incident with good triumphing

Cultural resonance

A concept in public interest which alludes to events with a broad appeal within the market or population.

Visuals

A concept in public interest which alludes to the graphic interest held by an event.

Issue recognition

A concept in public recognition which alludes to the extent to which the public is familiar with the issue or problem at hand.

Trendiness

A concept in public recognition which alludes to the fit of the topic to current fashion or public interest.

Mat release

A news release taht is typeset and thus may be photographically reproduced for inclusion in a newspaper.

Market penetration

A strategy whose goal is growth, based on selling more of the firm's product or service to the existing customer base.

Customer Vector

A type of CRM report which segments by customer (or customer group) on purchases or dates of purchase.

Press kit

A type of sales kit sent to media outlets which is focused around a press release.

Press release

A written announcement intended to draw news media attention to a specific event.

Proximity

AA concept in public recognition which alludes to the impact level of the issue being discussed.

Press relations

Activities used to establish and promote a favorable opinion by the media.

Public relations

Activities used to establish and promote a favorable opinion by the public.

viral marketing

Any electronic equivalent of word-of-month advertising, in which the advertiser's message spreads quickly and widely via e-mail, Website, blogs, and other online tools.

Public recognition

Being recognized or acknowledged by large numbers of people, similar to "fame."

Cognitive dissonance

Doubt that occurs after a purchase has been made. An inconsistency between experience and belief.

Promotional mix

How much of each message conveyance you will use to sell your product as well as your objective in using each one.

Publicity

Information about your company and its activities that is disseminated to the public in order to going their good opinion.

Newsworthy events

To garner serious attention from the media and the public, a news story needs to deliver certain essentials that will hold their attention and keep your news in their thoughts. It should have public recognition, importance, and interests.

Market expansion

A strategy whose goal is growth, based on selling in areas or to groups previously not served by the business.